Tax revenues in the first five months of this year rose NT$132.9 billion (US$4.09 billion), or 25.1 percent, from a year earlier to NT$662.9 billion, which is NT$83.1 billion, or 14 percent, higher than the fiscal budget set for that period, the Ministry of Finance said yesterday.
“All categories saw substantial growth in the first five months, compared with the same period last year, indicating that the economy is showing evident signs of a recovery,” Lin Lee-jen (林麗貞), head of the ministry’s statistics department, told a media briefing.
Land value incremental taxes posted the largest growth, surging NT$15.7 billion, or 99.8 percent, from a year earlier to NT$31.5 billion, followed by business income taxes, which increased NT$49.6 billion, or 90.6 percent, to NT$104.4 billion.
Lin said that revenues from business taxes, in particular, rose NT$30.5 billion, or 31.3 percent year-on-year, to NT$127.9 billion in the first five months, returning to the pre-crisis level of NT$124.2 billion recorded in 2008.
Customs tariff revenues increased NT$8.7 billion, or 34.4 percent, from a year ago to NT$34.1 billion, while commodity taxes edged up NT$8.2 billion, or 16.7 percent, from a year earlier to NT$57.1 billion, ministry data showed.
Last month’s tax revenues also posted impressive growth, as the treasury collected a total of NT$269.9 billion, up NT$76.6 billion, or 39.7 percent, from a year earlier, with land incremental value taxes seeing the largest increase.
Taxes on capital gains from rising land value soared NT$3.7 billion, or 122.6 percent, year-on-year last month, followed by business income taxes, which increased NT$47.2 billion or 95.6 percent, and custom tariffs, which climbed NT$2.9 billion, or 60.4 percent, the ministry said.
However, revenues from securities transaction declined NT$3.3 billion, or 29.2 percent, from a year ago to NT$8 billion, which represented the second-lowest amount in a year, data showed.
Lin attributed the decline to reduced transaction volumes in the local stock markets.
The New Taiwan dollar is on the verge of overtaking the yuan as Asia’s best carry-trade target given its lower risk of interest-rate and currency volatility. A strategy of borrowing the New Taiwan dollar to invest in higher-yielding alternatives has generated the second-highest return over the past month among Asian currencies behind the yuan, based on the Sharpe ratio that measures risk-adjusted relative returns. The New Taiwan dollar may soon replace its Chinese peer as the region’s favored carry trade tool, analysts say, citing Beijing’s efforts to support the yuan that can create wild swings in borrowing costs. In contrast,
Nvidia Corp’s demand for advanced packaging from Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) remains strong though the kind of technology it needs is changing, Nvidia CEO Jensen Huang (黃仁勳) said yesterday, after he was asked whether the company was cutting orders. Nvidia’s most advanced artificial intelligence (AI) chip, Blackwell, consists of multiple chips glued together using a complex chip-on-wafer-on-substrate (CoWoS) advanced packaging technology offered by TSMC, Nvidia’s main contract chipmaker. “As we move into Blackwell, we will use largely CoWoS-L. Of course, we’re still manufacturing Hopper, and Hopper will use CowoS-S. We will also transition the CoWoS-S capacity to CoWos-L,” Huang said
Nvidia Corp CEO Jensen Huang (黃仁勳) is expected to miss the inauguration of US president-elect Donald Trump on Monday, bucking a trend among high-profile US technology leaders. Huang is visiting East Asia this week, as he typically does around the time of the Lunar New Year, a person familiar with the situation said. He has never previously attended a US presidential inauguration, said the person, who asked not to be identified, because the plans have not been announced. That makes Nvidia an exception among the most valuable technology companies, most of which are sending cofounders or CEOs to the event. That includes
INDUSTRY LEADER: TSMC aims to continue outperforming the industry’s growth and makes 2025 another strong growth year, chairman and CEO C.C. Wei says Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), a major chip supplier to Nvidia Corp and Apple Inc, yesterday said it aims to grow revenue by about 25 percent this year, driven by robust demand for artificial intelligence (AI) chips. That means TSMC would continue to outpace the foundry industry’s 10 percent annual growth this year based on the chipmaker’s estimate. The chipmaker expects revenue from AI-related chips to double this year, extending a three-fold increase last year. The growth would quicken over the next five years at a compound annual growth rate of 45 percent, fueled by strong demand for the high-performance computing
RSS